The Securities and Exchange Commission (SEC) has broadened the scope of its One Day Submission and Electronic Registration of Companies (OneSEC) platform to allow registration of corporations with foreign equity, as part of ongoing efforts to enhance regulatory efficiency and improve the business climate.
“Streamlining the company registration process for foreign entities is a crucial component of our thrust to improve the ease of doing business in the country,” said SEC chairman Francis E. Lim. He added that the move signals the Philippines’ openness to international business and aims to attract more foreign investments.
Launched in 2021, OneSEC is part of the Electronic Simplified Processing of Application for Registration of Company (eSPARC) program, enabling registrations to be completed in just over a minute. The system has already facilitated the registration of 145 foreign corporations in the first half of 2025, a figure expected to rise following the expanded eligibility.
The SEC has also increased the number of allowable industry classifications under OneSEC from 33 to 81 and recently slashed corporate data request fees by 50 percent under Memorandum Circular No. 6, Series of 2025.
Further reinforcing its reform agenda, the agency introduced stricter timelines for processing permits and registrations, including a “deemed approved” policy for applications not acted upon within set deadlines.
